News

Dow Jones Industrial Average Hits 22,000 for First Time

By:

Chris Gaetano

Published Date:

Aug 2, 2017

The Dow Jones Industrial Average has reached a new milestone, hitting 22,000 points for the first time in history, buoyed by promising results from Apple, according to the New York Times. While analysts stressed that there's nothing particularly special about this number, they noted that these types of milestones tend to get a lot of attention, which in turn tends to make people more confident in the market. While some said that this will lead to even higher figures as time goes on, others noted that, historically, when the Dow hits a new high, there tends to be a tapering off for a little while as the market digests the news. Overall, though, the Times noted that market watchers are seeing this as a broad indicator of overall market strength based on good fundamentals for the companies making up the index.